The original use-case for this library was to encode the conversion from alpha2 country codes to strings. Lots of public APIs that provide country-specific information use ISO3166 to distinguish between countries.
The data that generates the OCaml file comes from https://github.com/lukes/ISO-3166-Countries-with-Regional-Codes/commit/6741ae83a08ce1802d22849db0a944d99e254bae which has the following disclaimer which applies to this library too.